Easily manage employment in Iceland

Mandatory Pension Fund

Supplementary (optional) Pension Fund (the employee can elect to supplement their pension by either 2% or 4%, and the employer then is obliged to match this with 2% in either case)

Social security contribution (this contribution is calculation on the Gross pay + Mandatory Pension Fund + Supplementary Pension fund amounts)

Union fee

Rehabilitation Fund

Holiday Allowance - once annually (this value is a minimum 10.17% of annual gross pay and can go up to 13.04% of annual gross pay, depending on the employees tenure with the employer)

Pension fund contribution

on the first ISK 4,188,216 ($34147.70)

on the next ISK 7,569,948 ($61719.92)

on any income over ISK 11,758,159 ($95867.58)